PASSED

This enacted ordinance shifts $0.169 per $100 of assessed property value from the City real estate tax to the School District of Philadelphia, changing the rates to $3.305 for the City and $3.284 for the School District while keeping the combined rate unchanged. It provides that the change would take effect only after the School Reform Commission filed an explanation of how the additional School District funding would be used, including its effects on early childhood education, class size, after-school programs, dropout prevention, and school safety, by June 30, 2007.

Amending Section 19-1301 of The Philadelphia Code, relating to real estate taxes imposed by the City, and Section 19-1801 of The Philadelphia Code, relating to real estate taxes imposed by the School District of Philadelphia, by shifting an additional portion of the real estate tax from the City to the School District of Philadelphia, without changing the overall combined rate of the City and School District real estate tax; all under certain terms and conditions.